Oil futures fall below $50 to settle at lowest in over a year

Oil prices fell on Monday, with U.S. benchmark prices under $50 a barrel to settle at their lowest since January 2019. The spread of coronavirus has fueled expectations for a slowdown in the global economy and energy demand. March West Texas Intermediate oil fell 75 cents, or 1.5%, to settle at $49.57 barrel on the New York Mercantile Exchange. That was the lowest front-month contract finish since Jan. 7, 2019, FactSet data show.

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